LOS ANGELES – March 15, 2023 -- LaTerra Development, a leading Los Angeles-based developer, has named Bryan Miranda, formerly Western Regional Vice President for Public Storage (NYSE:PSA), as Managing Director of LaTerra Storage to lead expansion of the self-storage company.
As head of development in the Western United States for Public Storage, the largest self-storage REIT in the world, Miranda completed over $1 billion of self-storage development during his nearly 10 years with the company.
“It’s possible Bryan has developed more self storage than anyone on the planet,” said Chris Tourtellotte, Managing Director for LaTerra Development. “We look forward to his leadership in creating a preeminent self-storage company with us. In addition to building ground-up storage facilities, we anticipate growing new investment vehicles such as value add and build-to-core.”
In 2022, LaTerra announced its formation of a self-storage development platform and formed a joint venture with a fund managed by Macquarie Asset Management to deploy up to $300 million in self-storage developments initially concentrated in Los Angeles and other Southern California markets.
LaTerra Storage already has five self-storage facilities underway in Metro Los Angeles and a 190,000 square foot facility (that includes boat and RV storage) in Irving, Texas.
“Self-storage is complementary to our core apartment development business,” notes Tourtellotte. LaTerra is one of the largest multifamily developers in the Los Angeles Metro Area with approximately 3,000 apartments currently in development. LaTerra has additional properties underway in various locations throughout the western Sun Belt.
“Self-storage is part of the neighborhood ecosystem and supports housing density and small businesses, a primary goal for LaTerra,” Tourtellotte adds.
Prior to his role at Public Storage, Miranda was Senior Vice President with LNR Property Corporation and its affiliates where he acquired and developed real estate projects in multiple states. He is a graduate of Loyola Marymount University with a degree in accounting. He started his career with Coopers & Lybrand, now PriceWaterhouseCoopers.
Miranda is based in LaTerra’s Century City headquarters.